F MEC International Financial Services Limited, a pioneering RBI-registered NBFC in India, has forged a strategic partnership with Finayo, the country’s premier AI-powered SaaS technology platform for green mobility lending. With a commitment to revolutionize climate financing, they plan to disburse Rs 25 crore within the next 12-18 months, aiming to accelerate electric vehicle (EV) penetration and enhance the green financing ecosystem.
This collaboration underscores F MEC International Financial Services Limited’s dedication to supporting innovative businesses. Finayo, emerging as a leader in EV financing, will utilize the Rs 25 crore disbursement to expand the EV network and promote sustainable mobility financing in segments such as 2-wheelers, 3-wheelers, and E-rickshaws.
Apoorve Bansal, Managing Director of F MEC International Financial Services Limited, expressed confidence in Finayo’s potential to transform the EV financing landscape. He emphasized the partnership’s goal of addressing the growing demand for sustainable mobility solutions and revolutionizing the green mobility lending industry.
The disbursement will follow a strategic roadmap, with Rs 10 crore allocated for the first year and Rs 15-20 crore for the second year. Additionally, Rs 5 crore will be earmarked for trade financing in the first 12 months, empowering around 90-100 dealers to bolster EV sales.
Brajendra Singh Tomar, Founder & CEO of Finayo, highlighted the company’s mission to provide EV financing services to underserved segments. With F MEC’s support, they aim to invest in cutting-edge technologies and create an inclusive network of EV financing.
The disbursed funds will also contribute to reducing CO2 emissions by financing approximately 500 to 700 EV vehicles, including 2-wheelers and E-rickshaws. After 12 months, the fund’s limit will be expanded to Rs 15 crore, further boosting green financing initiatives and promoting sustainable mobility practices.
F MEC and Finayo’s collaborative effort signifies a disruptive wave in the country’s EV financing segment, demonstrating their commitment to reshape the industry and encourage widespread adoption of sustainable mobility practices.
